Israeli holding company Scailex has confirmed that it will sell a stake of its holdings in Partner Communications to Saban Capital Group and assume joint control of the telco.
In a translation of the statement sent to the Tel Aviv stock exchange seen by…
Israeli holding company Scailex has confirmed that it will sell a stake of its holdings in Partner Communications to Saban Capital Group and assume joint control of the telco.
In a translation of the statement sent to the Tel Aviv stock exchange seen by TelecomFinance today, Scailex said that there had been “progress in the discussions” with Saban regarding the sale of a portion of its holdings in Partner.
“As part of the transaction, the company [Scailex] is expected to receive cash in exchange for Partner shares and release from liabilities,” the statement added.
TelecomFinance reported last month that Sacilex was in initial talks with Saban but that it was also “examining other transactions with additional entities.”
In Partner’s Q3 results which were announced this week, the telco reported total revenues of NIS1,315m (US$336m), a decrease of 25% from the same quarter last year.
